AGP Executive Report
Last update: 4 hours agoMarkets and Rates: Australian shares fell 0.5% on Monday as bank stocks dropped 1.6%, with investors awaiting Wednesday’s inflation figures. Markets see more than a 60% chance of another RBA rate rise in November. Superannuation: RBA assistant governor Brad Jones warned that allowing early access to retirement savings could destabilise funds during a financial crisis. Major super funds, meanwhile, want banks permitted to offer limited financial advice linked to their products. Borrowing and Payments: New dwelling loan commitments fell 5.4% nationally in the June quarter, as borrowers reassess affordability. Australia’s plan to scrap card surcharges could also open more room for smaller lenders such as MoneyMe. Budget and Investment: The Coalition says proposed cuts could save $31 billion over four years, including reductions to housing and climate programs. Ingenia shares climbed after AVID made a $2.2 billion takeover proposal, topping an earlier bid from Warburg Pincus.
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